Overnight US stocks | Unafraid of the latest conflict between the US and Iran, three major indices rose. SanDisk (SNDK.US) rose more than 7%. It is rumored that the issue price of SK Hynix ADR is $149.

On Thursday, the U.S. stock market rose as investors set aside concerns about the latest U.S.-Iran conflict and instead began buying technology stocks. Despite escalating conflicts in the Middle East, investors continue to focus on the artificial intelligence investment boom, showing strong signs after chip stocks fell significantly earlier this week. [US Stock Market] At the close, the Dow Jones rose by 139.02 points, or 0.27%, to 52487.41 points; the Nasdaq rose by 336.24 points, or 1.30%, to 26206.89 points; the S&P 500 rose by 60.95 points, or 0.81%, to 7543.66 points. Micron Technology, Inc. (MU.US) rose by 4.5%, SanDisk (SNDK.US) rose by 7.5%, Western Digital Corporation (WDC.US) rose by 5%. Meta Platforms (META.US) rose by 4.7%. The NASDAQ China Golden Dragon Index rose by 0.56%, iQIYI, Inc. Sponsored ADR Class A (IQ.US) rose by 8.5%, Alibaba Group Holding Limited Sponsored ADR (BABA.US) rose by 2%. [European Stock Market] The German DAX30 index rose by 238.80 points, or 0.96%, to 25104.47 points; the UK FTSE 100 index fell by 17.52 points, or 0.17%, to 10471.52 points; the French CAC40 index rose by 73.96 points, or 0.90%, to 8326.62 points; the Euro STOXX 50 index rose by 73.55 points, or 1.19%, to 6278.46 points; the Spanish IBEX35 index rose by 263.43 points, or 1.38%, to 19312.73 points; the Italian FTSE MIB index rose by 536.25 points, or 1.03%, to 52353.50 points. [Asian Stock Market] The Nikkei 225 index rose by 1.38%, and the KOSPI index rose by 0.62%. [US Dollar Index] The US Dollar Index, which measures the US dollar against six major currencies, fell by 0.09% to close at 100.904 in the foreign exchange market. At the end of the New York foreign exchange market, 1 euro exchanged for 1.1434 US dollars, higher than the previous trading day's 1.1426 US dollars; 1 pound exchanged for 1.3416 US dollars, higher than the previous trading day's 1.3400 US dollars. 1 US dollar exchanged for 162.34 yen, lower than the previous trading day's 162.48 yen; 1 US dollar exchanged for 0.8066 Swiss francs, lower than the previous trading day's 0.8076 Swiss francs; 1 US dollar exchanged for 1.4167 Canadian dollars, lower than the previous trading day's 1.4169 Canadian dollars; 1 US dollar exchanged for 9.6602 Swedish Krona, lower than the previous trading day's 9.6903 Swedish Krona. [Cryptocurrency] Bitcoin rose by over 1.5% to $63276.8, and Ethereum rose by 0.38% to $1748.09. [Crude Oil] The price of light crude oil futures for delivery in August on the New York Mercantile Exchange fell by $1.44 to $72.08 per barrel, a decrease of 1.96%; and Brent crude oil futures for delivery in September fell by $1.72 to $76.30 per barrel, a decrease of 2.2%. [Precious Metals] Spot gold rose to $4124.09 per ounce; spot silver was at $59.976. Bernstein raised its 2026 gold price forecast, expecting a target price of $4375 per ounce in the second half of the year and a full-year target price of $4533. The institution believes that central bank continued gold purchases and the high probability that the Federal Reserve will not raise interest rates in the next 12 months will be the main factors supporting the gold price. Bernstein expects that the Federal Reserve may only raise interest rates by 1 to 2 times at most, and the outflow pressure of gold ETF funds will also be limited. Bernstein pointed out that the rise in actual interest rates in the second quarter of 2026 led to the price of gold falling from $4650 per ounce to around $4000, but with stable interest rate expectations, gold still has room to rise. The institution also warned that if inflation continues to exceed expectations, prompting the Federal Reserve to take more aggressive rate hikes, it will be a major risk for gold price hikes. [Macro News] Luttig urges SK Hynix and Samsung to expand US storage chip production capacity. U.S. Secretary of Commerce Luttig called on Samsung Electronics and SK Hynix to increase their production capacity of storage chips in the United States to help alleviate the global shortage of critical components for artificial intelligence development. Luttig confirmed that he is in discussions with the two Korean memory chip manufacturers, but did not disclose specific details. He acknowledged that Micron Technology's CEO, Mehorotra, may not welcome competitors to expand their presence in the United States, but Luttig said that it is necessary to bring Samsung and SK Hynix to the United States to solidify the U.S. chip supply chain. "You know, he (Mehrotra) won't like it," Luttig said, "But I want to bring his competitors - Samsung and SK Hynix - to the United States to set up factories." Luttig said, "Micron is currently in the lead. Other companies would inevitably be envious, right? So they have to follow suit." US-Iran conflict escalates, U.S. 30-year mortgage rates rise to 6.49%. U.S. mortgage rates rose to 6.49%, reversing the previous week's downward trend. The market is concerned that a new round of U.S.-Iran conflict may push up oil prices and continue to raise borrowing costs. Fannie Mae said in a statement on Thursday that the average rate for a 30-year fixed-rate mortgage rose to 6.43% from a week ago, compared to 6.72% a year ago. Since the conflict erupted at the end of February, the Iran war has had an impact on the real estate market. The ceasefire agreement had raised hopes that the easing of political tensions would help stabilize borrowing costs, but the escalation this week could undermine such optimism. Fed's Logan: Voluntary central clearing mechanism could enhance open market operation efficiency. Dallas Fed President Logan said that if the Federal Open Market Committee conducts open market operations through a voluntary central clearing mechanism, it would help improve operation efficiency and effectiveness, and enhance market stability.. Logan pointed out that the arrangement could improve the use of Fed tools, such as standby repurchase tools. The tool is designed to provide liquidity to eligible Financial Institutions, Inc., but its current market utilization rate remains low. Some believe that simplifying the clearing process may increase its attractiveness. She also stated that market leverage levels need to be managed carefully and financial markets need to maintain an appropriate balance between the benefits and risks that leverage brings, as well as between leverage and liquidity. Polish Central Bank buys 82 tons of gold this year as gold prices fall. According to the Governor of the Polish Central Bank, Glapinski, the bank has purchased gold worth billions of dollars as gold prices have fallen recently. Glapinski said at a press conference in Warsaw on Thursday that the bank has bought 82 tons of gold so far this year. This means that since the last official data announcement in April, the bank has purchased an additional 37 tons of gold at the current price, valued at about $50 billion."Taking advantage of the recent price decline, we have been continuously buying gold," Glapinski said. Poland reported gold purchases in 2025 that exceeded any other central bank, and is expected to continue that record this year. Since April, the price of gold has fallen by over 10%. Glapinski reiterated the central bank's goal of holding 700 tons of gold. He said that the bank currently holds 632.4 tons of gold, with 105 tons stored in Poland and the rest stored in London and New York. [Stock News] SK Hynix ADR is said to have a guidance price of $149. According to sources, SK Hynix has informed investors that it plans to set the price of its ADRs for listing on US stocks at $149 per share. At this price, the ADR is priced at a premium of about 3.1% to the closing price of common stock on the Korean market on Thursday. According to documents previously submitted to the U.S. Securities and Exchange Commission (SEC), each SK Hynix ADR is equivalent to one-tenth of a common share. Sources say that discussions are still ongoing and specific details of the listing may change. A spokesperson for SK Hynix has yet to respond. At $149 per ADR, this issuance is expected to raise approximately $26.5 billion, making it the largest foreign company's IPO on the US stock market. Meta denies excess computing power: Sometimes renting is more valuable than using it yourself. Meta Platforms CEO Mark Zuckerberg said that the company needs to access as much computing power as possible, but he is also considering whether renting out some of Meta's AI infrastructure to external companies would bring higher value. Zuckerberg said that in some cases, renting out computing resources or considering such transactions may be more rational than internal use. Earlier this month, it was reported that Meta is developing a cloud business plan - which will help the company generate revenue directly through its data centers and other computing power collaboration projects. Zuckerberg said, "There is definitely potential to build a cloud business if we want to." He added that this does not mean that Meta has overbuilt or has excess computing power. "I don't know anyone in the industry who thinks they have excess computing power," he said. He added that Meta is currently using all of its computing resources to the fullest. Musk: Admits to underestimating Anthropic previously, says it is undoubtedly a leader in the AI industry. Tesla CEO Elon Musk said on social media that he "obviously misjudged Anthropic," saying that no company has released models as outstanding as their Mythos/Fable, and he expects that Anthropic will soon unveil Mythos 2. He said that even if Anthropic is a competitor, he would not take measures that would seriously harm their development, "that is not my style." Musk also said that Tesla has open-sourced patents and opened up the supercharging network to competitors; and when SpaceX launched competitor satellite systems, prices were not raised or unfair terms were set. [Major Bank Rating] UBS Group AG: raised Tesla, Inc.'s (TSLA.US) target price from $364 to $442